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[Mr. Potato]

This rumor makes no sense. Mr. McGavick has only been with the company for 1 year, how could he have 20 years experience with XL? I believe that the starter of this thread is talking about Mr. O'Hara, who is stepping down this month. This has been known for months, the man ran the company into the ground. McGavick is the new fresh CEO that is cleaning this company up. O'Hara out, McGavick in. A good thing.

[sjain]

This is not rumour. One of the four product heads of XL has resigned. It will be in news today only so then I ll able to send the link.

[VicVan]

Guys

Bermuda didnt put alot of info on that. But let me explain
Bermuda is a close friend of mine. We is a broker on Bermuda, and has lived there all his life. We met in London, he knows his stuff

He speaks to XL daily, hell most of his Bermuda mates work on the island and work in the industry.

Hence a rumour from him ------------ probably means its true


Now yeah he could of expanded on that or said who he was. But lift the ban from him. He is a dam broker!!!!!!!!!!!!!


VIC

[Bermuda]

Didnt mean to start a storm in a teacup! Its all good. I was not refering to O'hara... but i am wrong about the 20 years. Lets see what happens today!

NB - can confirm vic loves his tea!

[Onintwo]

May have confused some titles. Everything I've heard is McGavick committed to his role. Heck, he's even moved his wife and kids to Bermy and brought into XL one of the staff people who helped him turn around Safeco.

Two departures could be basis for this rumour. Chairman Brian O'Hara. But no news there.

Also, some news reports that a London-based business-line chief underwriting officer (this would put him two or three levels below McGavick) is leaving to join an old friend (retired XL) at a start-up. Great guy from all I hear, and with 18 yrs at XL would be missed, but slot could be refilled from bench in a day. I hear that one of his ancillary titles is 'chief executive of London market operations'--basically XL's man at Lloyd's. If you're sitting in a bar and hear someone say 'XL's CUO' or 'XL's ceo of london markets', it can sound a lot like what you're saying in your rumour. Specially after a dark and stormy or three! Cheers.

[chuckd]

Originally Posted by Bermuda Didnt mean to start a storm in a teacup! Its all good. I was not refering to O'hara... but i am wrong about the 20 years. Lets see what happens today! NB - can confirm vic loves his tea!

Its not the tea I'm worried about. I heard a rumor today that he

likes to wear pink knickers.

[JonW]

Originally Posted by Onintwo May have confused some titles. Everything I've heard is McGavick committed to his role. Heck, he's even moved his wife and kids to Bermy and brought into XL one of the staff people who helped him turn around Safeco. Two departures could be basis for this rumour. Chairman Brian O'Hara. But no news there. Also, some news reports that a London-based business-line chief underwriting officer (this would put him two or three levels below McGavick) is leaving to join an old friend (retired XL) at a start-up. Great guy from all I hear, and with 18 yrs at XL would be missed, but slot could be refilled from bench in a day. I hear that one of his ancillary titles is 'chief executive of London market operations'--basically XL's man at Lloyd's. If you're sitting in a bar and hear someone say 'XL's CUO' or 'XL's ceo of london markets', it can sound a lot like what you're saying in your rumour. Specially after a dark and stormy or three! Cheers.

Presumably this is Dermot O'Donohoe that is being referred to?

Active Underwriter for XL's Lloyd's operation and, yes, an excellent guy who joined XL Europe in 1991 and has a great reputation - I believe he has also been on the Council of Lloyd's since 2007 so, as a strong market man, will be a hard act to follow. Not sure that at this level of XL's operation it will be a price sensitive news item though.

http://www.insuranceday.com/insday/n...don/219605.htm

JonW